- Deal Details
- Company Statements
- Company's Future
Cipher Mining has successfully completed the acquisition of the Barber Lake Data Center in West Texas for $67.5 million, securing access to 300 MW of power capacity. This strategic move expands the company's total portfolio to over 2.5 GW, spread across 10 sites.
Deal Details
The acquisition includes 250 acres of land, a newly constructed high-voltage substation, and all necessary approvals to participate in the ERCOT market. Cipher Mining funded the deal by selling a portion of its bitcoin holdings, exchanging digital assets for tangible infrastructure.
Company Statements
According to CEO Tyler Page, 'Facilities with existing infrastructure and immediate availability are extremely rare.' The company has already received interest from several major tech firms regarding the new site.
Company's Future
With this acquisition, Cipher Mining strengthens its position in the bitcoin mining industry, expanding its potential for future growth. The company continues to invest in energy capacities, aiming to become a leading player in cryptocurrency mining.
Cipher Mining continues to strategically expand, with this new acquisition marking a significant step toward achieving its long-term goals in the cryptocurrency industry.
